The bank's total assets also climbed to N334.2 billion as at the period under review, as against the N330.9 billion recorded in
However, its customer deposits declined marginally to N216.3 billion as at June this year, from the N217.7 billion it stood as at
In the same vein, Wema's net interest income increased significantly by 81 per cent, to N9.7 billion as at
Commenting on the results, Managing Director of
"We continued the process of redeploying our resources into higher yielding assets while keeping a close eye on operating expenses."
According to him, during the period, the bank secured trade lines from foreign correspondent banks and development finance institutions to support its trade finance, the real estate sector and small and medium scale enterprises' lending.
"Project LEAP, our strategic transformation agenda, has continued to provide
"The goal is to continue our organic expansion programme and establish presence in areas that have significant growth potential, while making significant investments in alternative channels and diversifying the bank's product offerings," he explained.
Oloketuyi noted that with continued focus on good corporate governance and improved risk management practices,
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